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• WHEREAS, on September 26, 2001, the City Council adopted Resolution No. 01-24 modifying the development program for the project and establishing Tax Increment Financing District No. 1-3 ("the District"), a redevelopment tax increment district, located in Development District No. 1; and WHEREAS, the City adopts and incorporates by reference the findings and supporting documentation contained in Resolution No. O 1-24 and the Tax Increment Financing Plan for the District; and WHEREAS, pursuant to Minnesota Statutes, Section 469.126, the City is authorized within the Project to acquire, construct, reconstruct, improve, alter, extend, operate, maintain or promote developments and to acquire land or easements through negotiation or by eminent domain; and WHEREAS, the subject property is located in the Project and the District; and • WHEREAS, the City has entered into a development contract under which the developer will redevelop the subject property which is located within the Project, as part of a redevelopment project known as "Falcon Heights Town Square"; and WHEREAS, the City Council finds that the redevelopment of the subject property and the provision of the housing and retail space is in the best interest of the City and its residents and in accord with the development program for the project and the public purposes and provisions of applicable federal, state and local laws under which the redevelopment is being undertaken and assisted; and WHEREAS, the City Council finds that development and construction conditions related to the area make it necessary to acquire title to, and possession of, the property as soon as possible in order for the Project to proceed in an efficient, cost effective and expeditious manner; and •